Sentences with phrase «loan commitment»
A loan commitment refers to a promise made by a lender to provide a borrower with a specific amount of money for a loan, typically for a certain period of time. It is a formal agreement that assures the borrower that the funds will be available when needed, allowing them to plan and proceed with their financial plans with confidence. Full definition
The stated rate may change or not be available at the time of loan commitment or lock - in.
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Meanwhile, we received a final loan commitment from our lender today, just in time to release our loan contingency tomorrow.
In the agreement, the mortgage broker agreed to use «its best efforts» to obtain a mortgage loan commitment and complete a credit application for the borrower.
Once your contract has been accepted, you will begin the next stages of the process which include inspections, the appraisal, and final loan commitment.
The boost reflects continuing financial flexibility constraints on REITs, as well as the limited number of private market lenders willing to make loan commitments in excess of $ 100 million.
The new audit examined 18 loans or conditional loan commitments and found that for three, no information had been placed in the department's central archives.
That stems from senior lenders pulling back from loan commitments after sponsors had paid non-refundable deposits for acquisitions.
In such a case, payout from insurance company can be used towards treatment costs and meeting loan commitment.
They see loan commitment as a green light to move on with their lives and go out and make purchases to prepare for that new life.
While loan commitments are negotiated agreements, they are based on business terms from the term sheet, but almost always drafted on the lender's form.
The stated interest rate may change or not be available at the time of loan commitment, lock - in, or closing.
The stock of loan commitments not advanced still remains at very high levels, suggesting that housing credit growth is likely to remain high over the next quarter as construction work begun before 1 July is completed and paid for.
QuinStreet Media does not issue loan commitments or lock - in agreements.
Among the few exceptions is Deutsche Bank, which «has led or participated in loans of at least $ 2.5 billion» to the president since 1996, with at least another $ 1 billion in loan commitments to Trump - affiliated companies; more than $ 300 million of those loans have come since 2012.
DOE offers Vehicle Production Group nearly $ 50M conditional loan commitment for development of CNG - fueled wheelchair - accessible car
They can't make an actual loan commitment based on information typed into a form.
Over the next year, as loan commitments to other museums ended, his artworks traveled to Pasadena.
It is wise to obtain written, rather than verbal, lock - in agreements to make sure that you fully understand how your lender's lock - ins and loan commitments work and to have a tangible record of your arrangements with the lender.
If appropriate, we will issue a Letter of Intent and / or Loan Commitment based upon the facts of your Initial Application.
Some things consider when thinking about reform: the unique impact of student loan crisis on people with «hidden» disabilities like ADHD; existing loan commitments not factoring into FAFSA calculations; and if a student with the academic resume that my daughter has can't get any aid because the government says her mom makes too much money, then what exactly does it take for student success and merit to really matter?
The Solyndra case represents less than 2 % of total loan commitments made by DOE, and will be easily covered by a capitalization of eight to ten times larger than any ultimate losses expected following the bankruptcy proceedings.
It is suggested to get a pre-approval or loan commitment prior to shopping for a home.
NEW YORK — Chicago - based Ares Commercial Real Estate Corporation has closed a $ 36 million first mortgage loan commitment collateralized by a nine - story, 101 - unit apartment building located in New York City...
The lender usually wants legal opinions from its counsel, charges loan commitment fees, and needs loan documents prepared, not unlike the fees involved in amortgage transaction.
«We are certain that you are aware of the public approvals of the first tranche of the overall loan commitment, including the unanimous votes of the Empire State Development Board and the Public Authorities Control Board, in favor of funding the first $ 15 million of the state commitment loan,» he wrote.
the loans made by the scheme (for example, the type, location, proportion of loans in default, types of securities, future loan commitments, maturity profiles, loan - to - valuation ratios, interest rates and if the interest is capitalised)
Earnest was established as a company that focused on merit - based lending, which provides a full financial profile before establishing loan commitments.
The terms and conditions of such loans, including the amount of the loan and the applicable interest rate, are determined by Prodigy Finance in its discretion at the time a legally binding loan commitment is issued.
(6) Unfunded loan commitments are for loans that were previously closed but have yet to be funded.
The analysis finds that expanding fossil fuel reserves does even more damage than putting the global climate in danger; exploration financing by the World Bank risks locking developing countries into loan commitments for resources that will likely become stranded assets if policies are implemented to meet agreed climate goals.
The initial complaint filed in Clark County Circuit Court in Las Vegas stated that lenders had terminated their agreement for the $ 770 million loan commitment because of an unspecified event of default.
This is a true loan commitment, not just a pre-qualification typically offered by other lenders.
The results are published in a quarterly report of loan commitments among insurers sold by the ACLI.
The allocation of loan commitment figures for retail dropped to 12 % and 12.5 % before rebounding to 15.1 % in the second quarter of 2001.»
In its second transaction, Apollo provided a $ 60 million mezzanine loan commitment secured by a pledge of preferred equity interest in the owner of a to - be developed 57 - story, 146 - unit multifamily condominium property, also located in New York's Tribeca neighborhood.
In its first transaction, Apollo provided an $ 80 million whole loan commitment for a condominium conversion in Tribeca.
Better yet, there are a few lenders who will do «TBD Loan Commitments» which are having an underwriter approve your income, assets, and credit prior to having a ratified contract.
This is a formal loan commitment from a private capital lender, such as Montegra, that specifies the terms under which the lender agrees to lend money to a borrower upon the completion of a project's construction phase.
You are welcome to use your pre-approval from your first successful deal to receive other loan commitments!
The transactions generated excess proceeds above prior loan commitments worth approximately $ 576 million, which were used to pay down the company's line of credit.
Canadian firm Stikeman Elliott is advising Allied Irish Banks on the deal, which includes about $ 650 million in loan commitments, according to Raymond James.